Free Trial

Jefferies money market economist.........>

US TSYS/2Y
US TSYS/2Y: Jefferies money market economist Thomas Simons said "today's 2-year
note auction stopped right where the 1:00PM WI was bid at 1.922%. This is the
highest yielding 2-year note auction since September 24th, 2008."
- He noted "the 2.52 bid cover is the lowest since December 2016."
- "Indirect bidders took down 40% of the auction which is their smallest
takedown since December 2016," he said. "Direct bidders took down 14.5%,
slightly below the recent average."
- "As a consequence of the soft buyside, Dealers took down 45.5% of the auction,
which is the highest since December 2016," he added. 
- He noted that "holidays overseas" in the UK and in Europe "and a popular
vacation week in the US make for a thin trading environment. The auction was
similar to the December 2016 auction and it probably doesn't say much about
demand for the sector."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });